IT services company Wipro on Friday reported a 24.4 per cent year-on-year rise in its consolidated net profit for the just-ended December quarter at about Rs 3,354 crore. The Bengaluru-based tech major saw its revenue from operations inch up by 0.5 per cent to about Rs 22,319 crore.
The funding environment in India for startups is improving this year if one were to go by Bain & Company estimates. Five private equity (PE) investors that come on top on the criterion of deal size collectively put in $9 billion in the first half of 2024, surpassing their outlay for last calendar year, when it was $8 billion. At the top of the list is Swedish firm EQT, which acquired US-based and listed Perficient at an enterprise value of $3 billion, the deal being done by the Indian wing of the company. It has also added to its list by putting in $500 million in WSO2, a "software as a service" company, increasing its tally to $3.5 billion.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
For Lori Beer, chief information officer, JPMorgan Chase & Co, largest banker in the US, India is a big part of the organisation's global technology footprint and is core to its products and services. This is evident from the fact that in less than two months since JPMorgan & Chase chief executive officer Jamie Dimon visited India, Beer has come here to see the recently opened centres in Mumbai and Bengaluru. "What is different for me this year are our new centres and to be able to come and see the vibrancy, and connectedness is great.
Spanish soccer club Espanyol on Monday have called for action against Barcelona defender Mapi Leon
Growth in corporate profits needs to be commensurate with wages to boost the economy, Economic Survey 2024-25 said, noting that sharp disparities between the two pose risk to the economy by curbing demand. The document tabled in Parliament on Friday noted that while the labour share of GVA (gross value added) shows a slight uptick, the disproportionate rise in corporate profitsredominantly among large firmsaises concerns about income inequality.
The auto major is not just looking at domestic sales, but also planning to ramp up exports to key markets from here, like the Middle East, North Africa and Australia.
Auto parts exports from India may see a slight slowdown as US President Donald Trump's 25 per cent tariff could increase car prices for buyers by 8-25 per cent, thereby affecting demand, experts believe.
The GST Council on Saturday postponed a decision on cutting tax rate on life and health insurance premiums, officials said. The 55th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state counterparts, decided that some more technicalities needed to be ironed out and tasked the GoM for further deliberations.
Some of his directives had the Supreme Court judges disclose their assets whereas the row over the discovery of cash from a sitting judge's official residence paved way for inquiry.
Singh, who opened up the economy as finance minister and served as prime minister for two consecutive terms, died on Thursday at the age of 92. "History will forever honour his pivotal role in the transformative 1991 reforms that reshaped India and opened its doors to the world.
'Binary fission will happen -- startups will lead to more startups.'
Some of India's largest conglomerates are gearing up to either commission or commercially start the first phase of their new energy projects this year, according to company executives and analysts.
The Uttar Pradesh government has said that over 65 crore people visited the sacred site in Prayagraj since the Maha Kumbh began on January 13.
In today's rapidly evolving digital payment landscape, security concerns remain a top priority for stakeholders across sectors.
India recorded economic growth of 7.8 per cent in the April-June quarter of 2023-24 against 13.1 per cent in the year-ago period, as per the National Statistical Office (NSO) data released on Thursday. India remains the fastest-growing major economy as China's GDP growth in the April-June quarter was 6.3 per cent.
V Vijayasai Reddy, a prominent leader of the YSRCP, has resigned from the Rajya Sabha and announced his retirement from politics, citing personal reasons. The YSRCP, while stating that it does not approve of his decision, respects his choice. Reddy has been a key figure in the party's efforts to secure YS Jagan Mohan Reddy's position as Chief Minister, facing numerous challenges and criticisms. However, he has stated he will pursue a future in agriculture. His resignation has sparked reactions from various political leaders, with some expressing concern and others highlighting the political implications.
Among the new entries, the largest by market capitalisation are LIC, Avenue Supermarts (DMart), Adani Green Energy, Zomato and Jio Financial Services.
Tata Motors is the leader in the electric car market with about 62 per cent share.
The BJP has vehemently criticized the Karnataka government's decision to provide four per cent reservation for Muslims in government contracts, labeling it an "unconstitutional misadventure." The party has pledged to challenge the move in court and has vowed to oppose it at all levels. Meanwhile, the ruling Congress party has defended the reservation, arguing that it aligns with constitutional provisions. The issue has led to heated exchanges in the Karnataka Assembly, with both parties accusing each other of engaging in appeasement politics.
Udaan, India's largest business-to-business (B2B) e-commerce company, has received approval from the National Company Law Tribunal (NCLT) for its internal corporate restructuring plan, according to sources. By consolidating into a single entity, the restructuring will enhance Udaan's agility and pave the way for various financing options, including the ability to pursue an initial public offering (IPO) in India by 2026, according to people familiar with the matter.
From attractive EMIs to assured buyback guarantees, luxury carmakers have lined up a slew of offers to woo customers this festival season to address dwindling sales amid rising inventories.
After adding 11.7 million workers in the October 2022-September 2023 period from the pandemic lows in April 2021-March 2022, total workers employed in the vast informal sector in India - at 109.6 million - still remains below the pre-pandemic period.
WhatsApp on Wednesday announced the expansion of its payments service in India to make it easier for people transacting with businesses to pay for purchases directly in the chat, with a choice of UPI apps, including rival digital payment options, as well as credit and debit cards. Meta founder and CEO Mark Zuckerberg asserted that India is leading the world in people and businesses embracing messaging. WhatsApp said it is working with partners Razorpay and PayU "to make paying for something as simple as sending a message", as the Meta-owned platform unveiled a host of new features to woo businesses in India's booming commerce market.
Rishabh Pant was considered one of the hottest captaincy prospects in the league.
Air Chief Marshal A P Singh, the head of the Indian Air Force (IAF), stated that every Indian citizen is akin to a soldier. While acknowledging the unique appeal of serving in uniform, he emphasized that contributing to the nation doesn't necessitate military attire. Addressing NCC cadets at the Republic Day camp, Singh highlighted the importance of national service, emphasizing that it's not limited to those in uniform. He cited an example, stating that 'every soldier is a citizen in uniform, and every citizen is a soldier out of uniform.' He encouraged cadets to embody the values of discipline and patriotism in their daily lives, even outside of the military context, for the betterment of the nation.
Budget carrier SpiceJet on Wednesday said it has amicably settled a $132-million dispute with aircraft leasing firm Babcock & Brown Aircraft Management (BBAM). The dispute, valued at $131.85 million (Rs 1,107 crore) with the lessors -- Horizon Aviation 1 Ltd, Horizon II Aviation 3 Ltd, and Horizon III Aviation 2 Ltd -- has been resolved for $22.5 million, SpiceJet said in a statement.
Industry body Assocham has released a study paper, titled 'Mobile value added services' a vehicle to usher in inclusive growth and bridge the digital divide' on which Trai is seeking comments from various service operators by February 11, Trai said.
To address this, OnMobile Global, a leading provider, is de-risking its business model by growing its international business.
The government has revised gold import data, bringing down numbers for November by $5 billion to $9.84 billion, possibly to rectify double accounting of inbound shipments. According to revised data of the commerce ministry arm Directorate General of Commercial Intelligence and Statistics (DGCIS), gold import numbers have been slashed since April 2024, revealing excess imports of about $11.7 billion during the first eight months of 2024-25.
'Today's situation is unacceptable. It has the potential to affect the IAF's operational capability.'
Online food delivery platform Zomato will acquire Paytm's entertainment ticketing business for Rs 2,048 crore to strengthen its "going-out" segment in a deal that will help the troubled fintech firm to sharpen its focus on core payments and financial services distribution.
'Does 99 percent guarantee character and capacity for an independent awareness of life or does it make you -- barring exceptions -- a compliant careerist beholden to governments and corporations?' 'What kind of political and social choices would such minds make?' asks Shyam G Menon.
The government on Friday came out with new guidelines to prevent misleading advertisements, including those targeting children and making free claims to woo consumers.
Analysts believe as operators roll out 3G services by next year, the telecom infrastructure and mobile value added services will see more PE deals materialising in the sector.
India's e-commerce market alone is projected to reach $200 billion by 2026, making it a prime industry for ambitious entrepreneurs, explains rediffGURU Harsh Bharwani.
With the rapid evolution of channels like quick-commerce and the emergence of ONDC, the Indian retail industry is 'cautiously optimistic' for 2025, in which new-age technologies such as AI and automation will play a crucial role, driving efficiency and personalisation.
The Waqf (Amendment) Bill, 2025 was passed in the Lok Sabha early Thursday, with 288 members supporting it and 232 against it.
After heavy selling in the past two months, foreign investors have staged a strong comeback to Indian equities with a net investment of Rs 24,454 crore in the first week of December amid stabilising global conditions and expectations of potential US Federal Reserve rate cuts. This revival follows significant outflows in the preceding months, with foreign portfolio investors (FPIs) pulling out a net Rs 21,612 crore in November and a massive Rs 94,017 crore in October - the worst monthly outflow on record.
